Rising revenues in the domestic market has helped Indian pharma companies counterbalance the ongoing pricing pressure on generic drugs in the US in the financial year ended March 31, Fitch Ratings said Monday. The US and India are the two key markets served by Indian pharmaceutical companies, which sell predominantly generic drugs. Many of the leading pharmaceutical companies reported double-digit growth in their domestic sales which in turn supported overall industry growth of 11 per cent during FY19. By contrast, growth in the US market remained subdued for many Indian drugmakers, as consolidation of pharma distributors and a faster pace of approvals of new generic drugs by the US Food and Drug Administration (USFDA) has resulted in continued pressure on generic drug pricing over the last few years. Fitch expects continued growth in the domestic market, supported by the government’s focus on enhancing access to healthcare to economically weaker sections of the society.

(Economic Times)